NAM1 charged with 4 counts of fraud and doing banking business without licence

The Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

NAM1 who returned to Accra on Thursday July 11, 2019 after months of detention in Dubai in the United Arab Emirates is expected to appear before the Accra High Court today for allegedly defrauding 16,000 customers of more than GH¢1.68 billon between January 2017 and September 2018.

Two of his companies — Brew Marketing Consult and Menzgold Ghana Limited — represented by him, have each been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29), reports Graphic Online’s Mary Mensah in charge of the crime beat.

The two companies have also been charged with carrying out a deposit-taking business without licence, contrary to Section 6 (1) of Act 930.

Also facing the law are his sister and his wife, Benedicta Appiah and Rose Tetteh, respectively, who have been slapped with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of Act 930. The two women are, however, at large.